Inceptionr LLC Takes $462,000 Position in Carpenter Technology Co. (NYSE:CRS)

Inceptionr LLC bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,722 shares of the basic materials company’s stock, valued at approximately $462,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kestra Investment Management LLC bought a new position in Carpenter Technology in the 4th quarter worth approximately $25,000. UMB Bank n.a. boosted its holdings in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the period. Banque Cantonale Vaudoise bought a new position in Carpenter Technology in the 3rd quarter worth approximately $65,000. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology in the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new position in Carpenter Technology in the 3rd quarter worth approximately $84,000. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Down 3.1 %

Shares of NYSE:CRS opened at $180.32 on Friday. The firm has a fifty day moving average price of $194.14 and a two-hundred day moving average price of $174.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a one year low of $63.58 and a one year high of $213.66. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $167.17.

About Carpenter Technology

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.